Asian Crisis and the Exposure of Large United States Firms (ICPSR 1217)

A deep financial and economic crisis ravaged many Asian
nations during 1997 and 1998. In this article, the authors examine the
impact of the crisis on corporate risk for a subset of large United
States firms that are included in the Standard &amp; Poor (S&amp;P) 100 stock
market index. They find that the Asian crisis changed many of these
firms' exposure to stock market movements -- that is, their "betas,"
or sensitivity to stock market risk. In particular, the extent of a
firm's sales exposure to Asia appears to be an important link through
which the crisis affected beta. This effect is amplified by greater
financial leverage.

A deep financial and economic crisis ravaged many Asian
nations during 1997 and 1998. In this article, the authors examine the
impact of the crisis on corporate risk for a subset of large United
States firms that are included in the Standard &amp; Poor (S&amp;P) 100 stock
market index. They find that the Asian crisis changed many of these
firms' exposure to stock market movements -- that is, their "betas,"
or sensitivity to stock market risk. In particular, the extent of a
firm's sales exposure to Asia appears to be an important link through
which the crisis affected beta. This effect is amplified by greater
financial leverage.

Access Notes

These data are flagged as replication datasets
and are distributed exactly as they arrived from the data depositor. ICPSR has not checked or processed this material.
Users should consult the investigator(s) if further information is desired.

The public-use data files in this collection are available for access by the general public.
Access does not require affiliation with an ICPSR member institution.

Dataset(s)

Study Description

Citation

Emmons, William R., and Frank A. Schmid. Asian Crisis and the Exposure of Large United States Firms . ICPSR01217-v1. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2000-05-02. https://doi.org/10.3886/ICPSR01217.v1

Scope of Study

The files are 0001wed.zip, which unzips to the
data files, and 0001wep.zip, which unzips to a program file.

These
data are part of ICPSR's Publication-Related Archive and are
distributed exactly as they arrived from the data depositor. ICPSR has
not checked or processed this material. Users should consult the
investigators if further information is desired.